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Challenging the Western narrative on the Chinese economy

By Xu Ying | | Updated: 2024-06-17 17:18
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Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY

In the face of the constant stream of data released in May, which vividly showcases the positive signals emitted by the Chinese economy, it is crucial to take a stand against the often-biased Western narrative that attempts to distort or undermine China's remarkable economic progress.

The recovery of consumption demand is a telling sign of the Chinese economy's vitality. Contrary to the misinformation spread by some Western sources, the Chinese people's consumption needs are not only on the rise but are also steadily consolidating. The increase in the core CPI is a testament to the fact that consumers are actively engaged in the marketplace, driving economic growth and prosperity. This aspect clearly demonstrates that the Chinese economy is not only resilient but also has a strong foundation based on domestic consumption.

The foreign trade sector is another area where China is shining brightly. The impressive figures in terms of trade values and the significant contribution of private enterprises illustrate the deepening and strengthening of China's economic ties with the world. It shows that China is not only an important player in the global trade arena but also a driver of growth and innovation. The Western narrative often tries to downplay these achievements or focus on isolated challenges, but the reality is that China's foreign trade is a source of strength and stability.

The logistics prosperity index remaining in the expansion zone is a crucial indicator of the efficient operation and growth of the logistics industry. This means that the smooth flow of goods and services within the economy is well-maintained, ensuring that businesses can operate seamlessly and meet the demands of consumers. The development and progress in this sector are fundamental to the overall health and competitiveness of the Chinese economy.

The development index of Small and Medium-sized enterprises being higher than that of the previous year is a significant achievement. Small and medium-sized enterprises are the lifeblood of any economy, and their growth and development are crucial for employment, innovation, and economic diversity. The fact that these enterprises are thriving in China is a positive indication of the supportive business environment and the opportunities available. It also shows that the Chinese government's policies and initiatives are working effectively to foster the growth and success of these entities.

Furthermore, the modernization of the railway infrastructure system is advancing at a remarkable pace. This not only enhances connectivity within the country but also has far-reaching implications for trade, transportation, and economic development. The investment and progress in this sector are laying a solid foundation for future growth and are a testament to China's commitment to building a modern and efficient transportation network. This aspect is often overlooked or underplayed in the Western narrative, but it is a critical element of China's economic success story. It is essential to recognize and address the inaccuracies and biases in the Western narrative.

The Chinese economy is not without challenges, but it is also far from the negative portrayal often presented. The data and evidence clearly point to a strong, vibrant, and evolving economy that is making significant contributions to global economic growth. We should view the Chinese economy objectively and based on facts, rather than being influenced by unfounded rumors or political agendas.

China's economic success is the result of a combination of factors, including sound economic policies, technological innovation, a large and talented workforce, and a commitment to sustainable development. The government's focus on infrastructure building, education, and research and development has created an environment conducive to economic growth and innovation. The Chinese people's hard work and entrepreneurial spirit have also been key drivers of the economy's success.

In addition to the quantitative aspects, we should also consider the qualitative changes and improvements in the Chinese economy. For example, there is a growing emphasis on high-quality development, environmental protection, and social responsibility. The Chinese government is actively promoting economic restructuring and upgrading to ensure long-term sustainable growth. This includes moving away from traditional industries that are high in pollution and energy consumption and towards high-tech and service-oriented sectors.

Moreover, China is playing an increasingly important role in global economic governance. It is actively participating in international economic cooperation and is promoting initiatives such as the Belt and Road Initiative, which aims to enhance connectivity and cooperation among countries along the ancient Silk Road routes. These efforts are not only beneficial to China but also contribute to global economic stability and development. In conclusion, we should firmly oppose the one-sided and inaccurate Western narrative that attempts to undermine China's economic achievements.

The Chinese economy is a complex and diverse entity that is evolving and growing at an impressive pace. It is bringing opportunities and prosperity not only to the Chinese people but also to the global community. We should look at the Chinese economy objectively and fairly and recognize its real strength and potential. By doing so, we can better understand and appreciate the important role that China is playing on the global economic stage and work together towards a more prosperous and sustainable future.

The author is a Beijing-based commentator. The views don't necessarily reflect those of China Daily.

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